Bank of Lithuania securities lending under the asset purchase programmes
Seeking to support bond and repo market liquidity, the European Central Bank (ECB), together with other Eurosystem national central banks, lends securities purchased under the Public sector purchase programme (PSPP) and Pandemic emergency purchase programme (PEPP). The Bank of Lithuania's PSPP and PEPP holdings are available for lending via securities lending agents or under securities lending and borrowing programmes offered by international central securities depository Euroclear Bank SA/NV (Euroclear) : Securities Lending and Borrowing (SLB) programme (the so-called fails mitigation programme) and GC Access programme via Securities Lending and Borrowing Extended (SLBe) service.
Securities lending via agents
Lending of securities holdings takes place on a cash neutral basis, by entering into repo and reverse repo transactions. The Bank of Lithuania lends selected securities via its lending agent – Deutsche Bank AG – under the terms and conditions determined by the Bank of Lithuania.
Main terms and conditions of transactions:
- Pricing – no less than 5 basis point spread between the interest rates on repo and reverse repo transactions.
- Term – up to 97 calendar days.
- Valuation haircut – 4 per cent, applicable to securities on repo or reverse repo transactions.
- Eligible collateral – PSPP and PEPP -eligible securities with a minimal rating of A– and a maximum remaining maturity of 15 years.
- Borrowing limits – up to 2.5 per cent of the amount outstanding of a single issue for an individual counterparty, with a maximum of EUR 200 million for any such issue and a maximum nominal ticket size of EUR 50 million.
To become an eligible counterparty, please contact Deutsche Bank AG ([email protected]).
Euroclear securities lending and borrowing programmes
The Bank of Lithuania, as a lender of securities purchased under the PSPP and PEPP, participates in Euroclear securities lending and borrowing programmes SLB and GC Access via SLBe. The terms and conditions of the programmes are the standard conditions defined by Euroclear. For further information, please contact Euroclear directly.
Securities available for lending via agents or Euroclear securities lending and borrowing programmes:
| ISIN | Issuer | Coupon | Maturity |
|---|---|---|---|
| XS1020300288 | Government of Lithuania | 3.375 | 22/01/2024 |
| XS2168038417 | Government of Lithuania | 0.250 | 06/05/2025 |
| XS1310032187 | Government of Lithuania | 1.250 | 22/10/2025 |
| XS1130139667 | Government of Lithuania | 2.125 | 29/10/2026 |
| XS1619567677 | Government of Lithuania | 0.950 | 26/05/2027 |
| XS2547270756 | Government of Lithuania | 4.125 | 25/04/2028 |
| XS2013677864 | Government of Lithuania | 0.500 | 19/06/2029 |
| XS2168038847 | Government of Lithuania | 0.750 | 06/05/2030 |
| XS2487342649 | Government of Lithuania | 2.125 | 01/06/2032 |
| XS2604821228 | Government of Lithuania | 3.875 | 14/06/2033 |
| XS1310032260 | Government of Lithuania | 2.125 | 22/10/2035 |
| XS1619568139 | Government of Lithuania | 2.100 | 26/05/2047 |
| XS2013678086 | Government of Lithuania | 1.625 | 19/06/2049 |
| XS2210006339 | Government of Lithuania | 0.500 | 28/07/2050 |
| XS2364754411 | Government of Lithuania | 0.750 | 15/07/2051 |
| EU000A1U9894 | European Stability Mechanism | 1.000 | 23/09/2025 |
| EU000A1U9944 | European Stability Mechanism | 0.500 | 02/03/2026 |
| EU000A1Z99B9 | European Stability Mechanism | 0.750 | 15/03/2027 |
| EU000A1Z99F0 | European Stability Mechanism | 0.750 | 05/09/2028 |
| EU000A1U9969 | European Stability Mechanism | 1.125 | 03/05/2032 |
| EU000A1Z99D5 | European Stability Mechanism | 1.200 | 23/05/2033 |
| EU000A1U9928 | European Stability Mechanism | 1.625 | 17/11/2036 |
| EU000A1U9977 | European Stability Mechanism | 0.875 | 18/07/2042 |
| EU000A1U9902 | European Stability Mechanism | 1.750 | 20/10/2045 |
| EU000A1Z99A1 | European Stability Mechanism | 1.800 | 02/11/2046 |
- More information: tl.bl@soe